vs
Array Technologies, Inc.（ARRY）与T1 Energy Inc.（TE）财务数据对比。点击上方公司名可切换其他公司
Array Technologies, Inc.的季度营收约是T1 Energy Inc.的1.1倍（$226.0M vs $210.5M），T1 Energy Inc.自由现金流更多（$55.0M vs $36.2M）
ATI科技是原加拿大半导体科技企业，总部位于安大略省万锦市，专注于图形处理器与芯片组的研发，1985年成立，1993年公开上市，2006年被AMD收购。作为全球知名的无晶圆厂半导体厂商，其掌握自研核心技术，生产组装环节采用外包模式。2000年3dfx破产后，ATI成为全球图形芯片领域的核心厂商之一。
索尼能源设备株式会社是隶属于索尼集团设备事业部的全资子公司，是一家日本跨国企业，深耕能源产业多领域业务。该公司1975年2月在日本福岛成立，依托索尼的技术积累，在能源相关产品研发、生产及商业化方面具备行业领先实力。
ARRY vs TE — 直观对比
营收规模更大
ARRY
是对方的1.1倍
$210.5M
自由现金流更多
TE
多$18.8M
$36.2M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $226.0M | $210.5M |
| 净利润 | — | $-130.6M |
| 毛利率 | 8.6% | 10.0% |
| 营业利润率 | -65.5% | -45.0% |
| 净利率 | — | -62.0% |
| 营收同比 | -17.9% | — |
| 净利润同比 | — | -375.2% |
| 每股收益（稀释后） | $-1.06 | $-0.87 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ARRYTE
| Q4 25 | $226.0M | — | ||
| Q3 25 | $393.5M | $210.5M | ||
| Q2 25 | $362.2M | $132.8M | ||
| Q1 25 | $302.4M | $53.5M | ||
| Q4 24 | $275.2M | — | ||
| Q3 24 | $231.4M | $0 | ||
| Q2 24 | $255.8M | $0 | ||
| Q1 24 | $153.4M | $0 |
净利润ARRYTE
| Q4 25 | — | — | ||
| Q3 25 | $33.5M | $-130.6M | ||
| Q2 25 | $43.3M | $-31.9M | ||
| Q1 25 | $16.7M | $-16.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-141.4M | $-27.5M | ||
| Q2 24 | $25.7M | $-27.0M | ||
| Q1 24 | $2.2M | $-28.5M |
毛利率ARRYTE
| Q4 25 | 8.6% | — | ||
| Q3 25 | 26.9% | 10.0% | ||
| Q2 25 | 26.8% | 24.7% | ||
| Q1 25 | 25.3% | 33.3% | ||
| Q4 24 | 28.5% | — | ||
| Q3 24 | 33.8% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 35.9% | — |
营业利润率ARRYTE
| Q4 25 | -65.5% | — | ||
| Q3 25 | 11.6% | -45.0% | ||
| Q2 25 | 12.8% | -22.0% | ||
| Q1 25 | 9.0% | -44.2% | ||
| Q4 24 | -51.7% | — | ||
| Q3 24 | -57.3% | — | ||
| Q2 24 | 15.5% | — | ||
| Q1 24 | 5.5% | — |
净利率ARRYTE
| Q4 25 | — | — | ||
| Q3 25 | 8.5% | -62.0% | ||
| Q2 25 | 11.9% | -24.0% | ||
| Q1 25 | 5.5% | -30.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | -61.1% | — | ||
| Q2 24 | 10.0% | — | ||
| Q1 24 | 1.4% | — |
每股收益（稀释后）ARRYTE
| Q4 25 | $-1.06 | — | ||
| Q3 25 | $0.12 | $-0.87 | ||
| Q2 25 | $0.19 | $-0.21 | ||
| Q1 25 | $0.02 | $-0.11 | ||
| Q4 24 | $-0.94 | — | ||
| Q3 24 | $-1.02 | $-0.20 | ||
| Q2 24 | $0.08 | $-0.19 | ||
| Q1 24 | $-0.07 | $-0.20 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $244.4M | $34.1M |
| 总债务越低越好 | — | $547.3M |
| 股东权益账面价值 | $-206.3M | $96.9M |
| 总资产 | $1.5B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 5.65× |
8季度趋势，按日历期对齐
现金及短期投资ARRYTE
| Q4 25 | $244.4M | — | ||
| Q3 25 | $221.5M | $34.1M | ||
| Q2 25 | $377.3M | $8.5M | ||
| Q1 25 | $348.3M | $48.9M | ||
| Q4 24 | $363.0M | — | ||
| Q3 24 | $332.4M | $181.9M | ||
| Q2 24 | $282.3M | $219.6M | ||
| Q1 24 | $287.6M | $249.9M |
总债务ARRYTE
| Q4 25 | — | — | ||
| Q3 25 | — | $547.3M | ||
| Q2 25 | — | $591.2M | ||
| Q1 25 | — | $603.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $602.3M |
股东权益ARRYTE
| Q4 25 | $-206.3M | — | ||
| Q3 25 | $-46.7M | $96.9M | ||
| Q2 25 | $-70.9M | $183.9M | ||
| Q1 25 | $-97.8M | $201.9M | ||
| Q4 24 | $-118.1M | — | ||
| Q3 24 | $64.5M | $538.7M | ||
| Q2 24 | $200.0M | $561.6M | ||
| Q1 24 | $231.2M | $582.3M |
总资产ARRYTE
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.6B | $1.4B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.6B | $615.0M | ||
| Q2 24 | $1.7B | $644.4M | ||
| Q1 24 | $1.6B | $670.3M |
负债/权益比ARRYTE
| Q4 25 | — | — | ||
| Q3 25 | — | 5.65× | ||
| Q2 25 | — | 3.21× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.03× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $43.6M | $63.9M |
| 自由现金流经营现金流 - 资本支出 | $36.2M | $55.0M |
| 自由现金流率自由现金流/营收 | 16.0% | 26.1% |
| 资本支出强度资本支出/营收 | 3.3% | 4.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $79.8M | $-42.3M |
8季度趋势，按日历期对齐
经营现金流ARRYTE
| Q4 25 | $43.6M | — | ||
| Q3 25 | $27.4M | $63.9M | ||
| Q2 25 | $43.8M | $33.4M | ||
| Q1 25 | $-13.1M | $-44.8M | ||
| Q4 24 | $57.6M | — | ||
| Q3 24 | $44.9M | $-28.4M | ||
| Q2 24 | $4.0M | $-28.0M | ||
| Q1 24 | $47.5M | $-16.2M |
自由现金流ARRYTE
| Q4 25 | $36.2M | — | ||
| Q3 25 | $21.9M | $55.0M | ||
| Q2 25 | $37.2M | $10.6M | ||
| Q1 25 | $-15.4M | $-74.0M | ||
| Q4 24 | $55.9M | — | ||
| Q3 24 | $43.9M | $-34.0M | ||
| Q2 24 | $1.8M | $-35.6M | ||
| Q1 24 | $45.1M | $-37.7M |
自由现金流率ARRYTE
| Q4 25 | 16.0% | — | ||
| Q3 25 | 5.6% | 26.1% | ||
| Q2 25 | 10.3% | 8.0% | ||
| Q1 25 | -5.1% | -138.4% | ||
| Q4 24 | 20.3% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 29.4% | — |
资本支出强度ARRYTE
| Q4 25 | 3.3% | — | ||
| Q3 25 | 1.4% | 4.2% | ||
| Q2 25 | 1.8% | 17.2% | ||
| Q1 25 | 0.8% | 54.5% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 1.6% | — |
现金转化率ARRYTE
| Q4 25 | — | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 1.01× | — | ||
| Q1 25 | -0.78× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 21.94× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ARRY
| Array Legacy Operations Segment | $212.0M | 94% |
| STI Operations Segment | $14.0M | 6% |
TE
| Related Party | $120.1M | 57% |
| Nonrelated Party | $90.4M | 43% |
